Post by Admin on Jan 17, 2018 16:12:50 GMT -5
I have received my ballot envelope.
For starters, the budget is inscrutable in so many ways.
What IS Line F being used for? Why did we spend almost $15K? Is this for KCNetwork towers?
"Liens/Foreclosures"-SLohA has admitted in court that it does not have lien/foreclosure authority. Why are owners being assessed as if it does? What is the $8000 actually being spent on? The last lien filed by SLohA was in 2014. It appears from the budget that there are TWO properties that are not contributing to assessments, yet there are no liens filed because SLohA does not have the legal authority to do so. Why is this line item there?
Third irrational example. Why is the Reserve for Water/Sewer system being reduced from $280K to $261K. On the other hand, the roads, just completely done in 2013 to the tune of a half million dollars, is being INCREASED from $13K to $22K!
The way Reserves are presented is inscrutable and there are no details to understand it. This is a yearly complaint. There was nothing recorded in the Budget Workshop minutes of any substance--not even a mention of how many owners attended. There is no Chart of Accounts that describes exactly what expenses are applied to accounts and no information in the monthly financial statements that disclose the Reserve line. There is usually a motion that states an intent to expense an item but why would owners have to research Minutes to identify a maximum allowable expenditure and then extrapolate to the financial report a month or two later. Is it possible that Accounting could just identify the expense with a comprehensible notation?
Because I do not have enough information to pass the Reserve part of the budget, I do not have confidence in it and will vote against. It is a mere protest statement but what the heck! If enough owners do likewise and start failing budgets, perhaps one day BOD will actually direct Management Company to work FOR the owners.
For starters, the budget is inscrutable in so many ways.
What IS Line F being used for? Why did we spend almost $15K? Is this for KCNetwork towers?
"Liens/Foreclosures"-SLohA has admitted in court that it does not have lien/foreclosure authority. Why are owners being assessed as if it does? What is the $8000 actually being spent on? The last lien filed by SLohA was in 2014. It appears from the budget that there are TWO properties that are not contributing to assessments, yet there are no liens filed because SLohA does not have the legal authority to do so. Why is this line item there?
Third irrational example. Why is the Reserve for Water/Sewer system being reduced from $280K to $261K. On the other hand, the roads, just completely done in 2013 to the tune of a half million dollars, is being INCREASED from $13K to $22K!
The way Reserves are presented is inscrutable and there are no details to understand it. This is a yearly complaint. There was nothing recorded in the Budget Workshop minutes of any substance--not even a mention of how many owners attended. There is no Chart of Accounts that describes exactly what expenses are applied to accounts and no information in the monthly financial statements that disclose the Reserve line. There is usually a motion that states an intent to expense an item but why would owners have to research Minutes to identify a maximum allowable expenditure and then extrapolate to the financial report a month or two later. Is it possible that Accounting could just identify the expense with a comprehensible notation?
Because I do not have enough information to pass the Reserve part of the budget, I do not have confidence in it and will vote against. It is a mere protest statement but what the heck! If enough owners do likewise and start failing budgets, perhaps one day BOD will actually direct Management Company to work FOR the owners.